One Decision That Might Double Your Profit
I'm pretty sure this single, simple decision can easily double the profit of just about any company:
Starting immediately, the first sentence of every internal email will explain in 20 words or less why the email is being sent.
This decision accomplishes two things:
- It forces senders to limit themselves to emails that have a point and purpose.
- It allows recipients to quickly decide whether an email deserves attention.
The inevitable result is a vast reduction in useless email chatter. How much is that worth? Plenty.
According to a recent McKinsey study, the average worker spends about a third (!) of his or her workweek reading and answering emails.
Conservatively, this decision would halve the average time your average worker spends on email. That's the rough equivalent of reducing your personnel costs by around 16 percent.
So, let's say you're running a profit margin of 5 percent and your personnel costs are 50 percent of your expenses. With this single decision, therefore, you've increased your profit margin by 8 percent.
Food for thought, eh?
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Geoffrey James, a contributing editor for Inc.com, is an author, speaker, and award-winning blogger. Originally a system architect, brand manager, and industry analyst inside two Fortune 100 companies, he's interviewed more than a thousand successful executives, managers, entrepreneurs, and gurus to discover how business really works. His most recent book is Business Without the Bullsh*t: 49 Secrets and Shortcuts You Need to Know. If you enjoyed this post, sign up for the free weekly Sales Source newsletter.